Conformed
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported) January 31, 1995
Beneficial Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-1177 51-0003820
(State or other jurisdic- (Commission (IRS Employer
tion of incorporation) File Number) Identification No.)
301 North Walnut Street, Wilmington, Delaware 19801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (302)425-2500
No Change
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
On Tuesday, January 31, 1995, Beneficial Corporation, a
Delaware corporation (the "Company"), announced earnings of
$9.2 million in the fourth quarter of 1994 compared with $43.3 million
in the fourth quarter of 1993. Earnings for the period were reduced by
a previously announced $38 million charge to reflect credit loss
exposure and related expenses on a large block of loans at BFK Bank, AG
("BFK"), the Company's German consumer banking subsidiary. Beneficial
previously announced its intention to sell BFK.
For the full year 1994, income before extraordinary items was
$177.7 million compared with $186.0 million in 1993. In 1993, results
included a $2.8 million extraordinary charge to reflect premiums paid
on the call of bond issues. Accordingly, 1993 net income was
$183.2 million.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
BENEFICIAL CORPORATION
(Registrant)
By /s/Scott A. Siebels
Scott A. Siebels
Vice President, Corporate
Secretary and Associate
Counsel
Dated: January 31, 1995
